An inflation index that is closely monitored by the Federal Reserve tumbled last month to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs.
Several of the world’s top central bankers got together, and their message was clear: interest rates are expected to go even higher to combat inflation. U.S.
That cooldown could lead the Fed to decide to skip a rate hike when it meets in September, after a widely expected increase at its next meeting in late July. Used cars soared 4.7% from April to May, though they’re still 2.2% cheaper than they were a year ago. Economists expect used car prices to fall soon because measures of wholesale used car costs are declining.
“The bottom line is that policy hasn’t been restrictive enough for long enough,” Powell said in his remarks at an international forum in Sintra, Portugal. He reiterated his view that prices for services, such as restaurant meals, hotel rooms and health care, are still rising too fast, driven in part by the need of many companies to raise pay to attract and keep workers.. Prices rose 5.5% in June compared with a year ago, down from 6.1% in May.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Federal Reserve says 23 biggest banks weathered severe recession scenario in stress testBegun in the aftermath of the 2008 financial crisis, the Fed's annual stress test dictates how much capital the industry can return to shareholders.
Baca lebih lajut »
Federal Reserve may tighten financial rules after US bank failures, Powell saysFederal Reserve Chair Jerome Powell said Thursday that the central bank may have to tighten its oversight of the American financial system in the wake of the failure of three large U.S. banks this spring.
Baca lebih lajut »
Federal Reserve may tighten financial rules after US bank failures, Powell saysFederal Reserve Chair Jerome Powell says the central bank may have to tighten its oversight of the American financial system after the failure of three large U.S. banks this spring.
Baca lebih lajut »
Federal Reserve's banking bailouts reach a new weekly high of $103BThe U.S. banking crisis appears far from over as the Fed’s emergency loan facility hits a new weekly high in efforts to bail out struggling banks.
Baca lebih lajut »
An inflation gauge tracked by the Federal Reserve falls to its lowest point in 2 yearsIt was pulled down by lower gas prices and slower-rising food costs.
Baca lebih lajut »
An inflation gauge tracked by the Federal Reserve falls to its lowest point in 2 yearsIt was pulled down by lower gas prices and slower-rising food costs.
Baca lebih lajut »